JK to register power projects under International Climate Treaty
We Can Earn Crores Annually Through CERs: PDC
Srinagar, Dec 28: The State Power Development Corporation (PDC) is contemplating to register its upcoming hydropower projects under an international climate treaty which would help J&K to claim benefits for checking emission of greenhouse gases during energy generation.
The Corporation has invited global bids to engage consultants for registration of power projects for Clean Development Mechanism (CDM) benefits under the United Nations Framework Convention on Climate Change.
The projects are 1856 MW Sawalakote, 390-MW Kirthai stage-I, 990 MW Kirthai stage-II, 450-MW Baghliar-II, 93-MW New Ganderbal, 48-MW Lower Kalnai, 37.5 MW Parnai, 9-MW each Dah and Hanu.
The Executive Director JKPDC Zahoor Ahmad Chat said JK has a definite claim for CDM benefits as hydropower generation helps in reduction of greenhouse gases in one way or the other at the global level.
The state would require seeking permission from union Ministry of Environment and Forests for registration of the projects for the CDM benefits.
The UNFCCC is 1992 international environmental treaty aimed at reducing greenhouse gas concentrations in the atmosphere by 5.2 percent to the level in 1990.
CDM allows emission-reduction projects in developing countries to earn Certified Emission Reduction (CER) credits. Each CER could be earned through less emission of one tonne of carbon dioxide.
These CERs can be then traded and sold to the developed nations in the carbon market.
“Under UNFCCC the developed nations can reduce the emission of the greenhouse gases on their own but it can be costly, they can purchase CERs from developing nations to contribute towards reducing emission of the gases or invest jointly in developing countries for reducing the gases level,” Chat said.
For reduction of every ton of Carbon dioxide during generation from hydropower projects one CER is earned. There are different scales for earning CERs vis-a-vis other greenhouse gases including methane, nitrous oxide, and others.
To put it in a simple way for every unit of hydropower generated .8 kilogram of carbon is saved from emission, Chat said.
In case of the upcoming 450 MW Baghliar-II which would generate around 2700 million units of energy, once commissioned state would be in a position to earn around 1.35 million Euros annually through CER trading.
“We will be in a position to earn crores of rupees annually through CERs earned from the projects registered under UNFCCC,” Chat said.
Chat said today the value of a CER, which had earlier increased to 24 Euros, is around .7 Euros. “The value keeps on fluctuating depending upon its demand. Its value is likely to increase since the UNFCCC has approved registration of the projects for CDM benefits in its recent meeting held at Doha up to 2020,” Chat said.
He said once the consultant is engaged he would be tasked with preparing Project Design Document for JK’s hydropower projects for claiming CDM benefits.
The claims would then be verified by the UNFCCC approved international accredited agency, Designated Operation Entity (DEO) before registration of the projects, said Chat.
Lastupdate on : Fri, 28 Dec 2012 21:30:00 Makkah time
Lastupdate on : Fri, 28 Dec 2012 18:30:00 GMT
Lastupdate on : Sat, 29 Dec 2012 00:00:00 IST
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